Friday July 31, 2020
Monday August 3rd- Grain markets are open but offices are closed. You can call your grain originator if you would like to market some grain .
Canadian Dollar- $0.7454
2019 corn- 4.71 0 unchanged
2020 corn-4.270 unchanged
2019 soybeans- 11.52 +3.5 cents
2020 soybeans- 11.42 +3.5 cents
2020 srw- 6.42 +2.0 cents
2021 srw- 6.57 +1.50 cents
Receiving status for the long weekend Saturday, Sunday & Monday
If farmers are going we will be open to receive your grain
Looking for cover crops after your winter wheat?
Lots of oats- treated and untreated
Call Sherri in Lucknow 519-528-2092 or Teresa in Palmerston 519-343-3630
Brazilian armers are coming off a great 2019/2020 crop and are looking to increase their acres in 2020/2021. Estimates are 95.09 Million acres which would represent a 3.85 Million acre increase.
US exports for Old crop soybeans were lack luster for week of July 23rd but new crop topped 3.3 million tonnes coming from China and unknown. Which was almost double the average trade guess.
Soybeans on Thursday had modest gains on the export news.
DTN modelling is calculating an August 2020 USDA corn yield of 184.3bu/ac (current is 178.5 bu/ac)
Weekly US old crop corn sales saw net reduction of 29,300tonnes (1.2 Million bushels) Cancellation. Just over a month remaining in 2019/2020 crop season corn sales are 1.7 billion bu compare to 1.964 billion late in 2018/2019.
China bought the largest on record corn purchase in history in one day at 1,937,000 MT of corn on Thursday for 2020/2021. US also sold another 130,000 MT to unknown.
Corn market saw fractional gains on Thursday even with the great corn sales since the expectations of a large crop overshadow the news.
Weekly US wheat sales came out 10% up from previous week and 30% higher then 4 week average.